Key Points: Voyager Digital, a bankrupt cryptocurrency company, seeks court permission for users’ funds to be recovered through Binance.US accounts.
The deal between this company and Binance.US is expected close in March, allowing users to withdraw funds.
Voyager US customers will be required to provide personal information, such as email address and social security number.
According to court filings Voyager Digital, an insolvent crypto broker, has filed a plan to customers to get their assets through Binance.US. The deal is expected to close in March and allow users the ability to withdraw funds. Users in Hawaii, New York and Texas will have to wait six months because they can’t create accounts on Binance.US. Joshua Sussberg, a partner at Kirkland & Ellis said that if Binance.US does not obtain the licenses or authorizations necessary to operate in unsupported nations within six months, Voyager will transfer any assets that can be distributed to customers in that country. The assets will then be converted to cash and distributed separately.
“In the event that Binance US fails to receive the required licensing or authorization to operate within the unsupported states in the 6 month period following the asset purchase agreement closing, Voyager will convert any distributions available to such customers into cash and will distribute them separately.”
Joshua Sussberg, Kirkland & Ellis partner, wrote in the court filing. Voyager US customers remaining will need to provide personal information such email addresses, social security numbers and dates of birth in order to create their Binance.US accounts. Travel also provides a claim portal that shows the value of assets. The client can still get 100% back.
Voyager’s rebalancing will determine if your actual recovery amount is a percentage of the claim amount.
The court filing shows a screenshot. Voyager customers had hoped to go through a similar checkout with FTX USA a few months back. But after Sam Bankman-Fried’s vast crypto empire filed for Chapter 11 bankruptcy protection in November, Voyager reopened the bidding process for its assets and received a $1 billion settlement with Binance.US.The final hearing on Binance.US’s acquisition of this company’s assets will be held on March 2, and the date for calculating the price of the user’s withdrawals is yet to be determined.DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.Join us to keep track of news: https://linktr.ee/coincuWebsite: coincu.comFoxyCoincu NewsTags: # Cryptocurrencies#Marketsbinance usBlockchaincryptoVoyager Digital